Newmont Co. (NYSE:NEM) Stake Cut by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC lessened its holdings in Newmont Co. (NYSE:NEM) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,656 shares of the basic materials company’s stock after selling 949 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Newmont were worth $694,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Heathbridge Capital Management Ltd. boosted its holdings in shares of Newmont by 2.0% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after buying an additional 200 shares during the period. E. Ohman J or Asset Management AB raised its stake in Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after acquiring an additional 200 shares during the period. Fulton Bank N.A. lifted its holdings in Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after acquiring an additional 221 shares during the last quarter. Carmel Capital Partners LLC boosted its stake in Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares during the period. Finally, Good Life Advisors LLC grew its holdings in shares of Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Up 0.7 %

NEM opened at $41.67 on Friday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The business has a 50 day moving average price of $40.43 and a two-hundred day moving average price of $46.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the company earned $0.36 EPS. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. Research analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. Raymond James cut their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.